UPDATE 1-Pamplona buys bankrupt auto supplier TMD Friction
Friday, April 3, 2009 : PermalinkReuters – TMD Friction, a bankrupt German maker of brake pads for the auto industry, has been bought by private equity firm Pamplona Capital Management, TMD said on Friday.
Both sides declined to comment on the sale price. The acquisition will safeguard 3,800 jobs worldwide, TMD said.
"I’m delighted to be partnering with Pamplona who are highly supportive of TMD Friction and the long-term outlook for the group," TMD Friction Chief Executive Derek Whitworth said.
Tags: acquisition, auto industry, brake pads, capital-management, chief-executive, german maker, jobs, private equity firm, reuters, safeguard 3, term outlook, tmd friction, whitworth
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